What is the story about?
What's Happening?
Howden US, based in Columbia, South Carolina, has appointed Mark Peterson as the head of its construction, infrastructure, and surety practice. Peterson joins the team led by Mike Parrish and will work closely with Naresh Dade, the global head of construction, as part of Howden's global specialty practice. Peterson is tasked with expanding the industry practice and offering a comprehensive option for clients in the construction and infrastructure sectors. With over three decades of experience in legal and insurance industries, Peterson previously led the professional liability team at Aon, advising constructors, architects, engineers, and owners on complex project risks. His career also includes roles as a partner at Stinson Leonard Street LLP and a shareholder at Koley Jessen P.C., focusing on intellectual property and professional liability disputes.
Why It's Important?
The appointment of Mark Peterson is significant for Howden US as it aims to strengthen its position in the construction and infrastructure insurance market. Peterson's extensive experience in handling complex project risks and contractual models is expected to enhance Howden's offerings, providing clients with more robust risk management solutions. This move could potentially increase Howden's market share in the U.S. construction insurance sector, benefiting stakeholders such as constructors, architects, and engineers who require specialized insurance products to mitigate risks associated with large-scale projects.
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